Resona Asset Management Co. Ltd. Makes New $4.55 Million Investment in Masco Co. (NYSE:MAS)

Resona Asset Management Co. Ltd. bought a new position in Masco Co. (NYSE:MAS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 62,676 shares of the construction company's stock, valued at approximately $4,554,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Masco by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company's stock worth $371,265,000 after buying an additional 58,739 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Masco by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company's stock valued at $235,881,000 after purchasing an additional 299,520 shares in the last quarter. Nordea Investment Management AB increased its position in Masco by 21.0% during the 4th quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company's stock worth $218,063,000 after purchasing an additional 520,555 shares in the last quarter. Schroder Investment Management Group raised its holdings in Masco by 9.7% in the fourth quarter. Schroder Investment Management Group now owns 2,103,820 shares of the construction company's stock valued at $152,569,000 after buying an additional 185,286 shares during the period. Finally, Norges Bank purchased a new stake in Masco during the fourth quarter worth approximately $129,306,000. Institutional investors and hedge funds own 93.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MAS. Wells Fargo & Company cut their price objective on Masco from $82.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday. Royal Bank of Canada reissued a "sector perform" rating and set a $74.00 target price on shares of Masco in a research report on Wednesday, February 12th. Barclays lowered their price target on shares of Masco from $87.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Masco in a research report on Tuesday, April 1st. They issued a "hold" rating and a $71.00 price objective for the company. Finally, Zelman & Associates raised Masco to a "strong-buy" rating in a research report on Friday, January 17th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $83.37.

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Insider Activity at Masco

In other Masco news, VP Renee Straber sold 3,139 shares of Masco stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the sale, the vice president now owns 33,027 shares of the company's stock, valued at $2,370,678.06. This trade represents a 8.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total value of $1,658,768.28. Following the sale, the chief executive officer now owns 60,267 shares of the company's stock, valued at approximately $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Masco Price Performance

Shares of NYSE MAS traded up $0.72 during trading on Monday, hitting $62.66. The company had a trading volume of 145,468 shares, compared to its average volume of 1,697,028. The company has a market cap of $13.26 billion, a P/E ratio of 16.66, a PEG ratio of 1.94 and a beta of 1.24. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The business's 50-day moving average is $71.54 and its 200 day moving average is $76.44. Masco Co. has a 52 week low of $57.27 and a 52 week high of $86.70.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Masco had a return on equity of 838.32% and a net margin of 10.50%. During the same quarter in the prior year, the firm posted $0.83 EPS. Equities research analysts predict that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Masco's previous quarterly dividend of $0.29. Masco's dividend payout ratio (DPR) is 32.98%.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.